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Friday, 30 May 2014

Hopes and Fears: Of Unbound Capitalism

“Few things are impossible to diligence and
skill… many things difficult to design prove easy to performance” Samuel Johnson “The History of Rasselas”, 1759

In the above mentioned quote from an age old fable, the wise-man Imlac advises
Rasselas, the Prince of Abyssinia, towards his plans to flee from Happy Valley; the palace enclave of princes and
princesses of the Abysinnian royalty which is surrounded on all sides by
seemingly impassable mountains.

Conversely, FPM principal believe the beleaguered and despondent masses of wretched
workers in our present mode of
capitalism are attempting to breakaway the echelons of multi-billionaire
owners and institutions towards seeking greater income parity in society. A
mode of capitalism, that leads to our modern human society being organised as a
plutocracy. Democracy is a specious and inappropriate
label for our social rule. Since the recent catalytic event of the Great
Recession, we have all seen the all-too-quickly dismissed global protests
against unbounded capitalism and the disparity in wealth created in respective
populations: the American 1% versus the 99%, the Arab Spring, London Riots of
August 2011, etcetera are all compounding symbols of populist dissident
discontent with socio-economic-politics of the day. Non-believers or doubters of
the seismic change set in motion, sceptics and cynics alike, may cliché-wise
state that “it has thus been the same in
the past”. Yet some flash-points in the social history of man do escalate
to greater consequences from a unique confluence of tethered events. A
planetary alignment of sorts with which to herald unprecedented change no less.
Witness the epochal events towards America’s
first black president; though only some 60 years ago segregation of black
and white people was the prevalent status-quo in the US.

Despite global pockets of dissent activism, what we have not fully seen
is the greater collective coherent campaign that’s tantamount to a global people revolution. FPM sensationally
and inspirationally views this new millennium as an opportunity for aspiration
towards lasting change in attitudes, values and belief system in socio-economic
political structures. Humanity’s hopes and fears are manifested through their ultimate
conscious or inadvertent actions. This past week saw eco-political activity and
developments that passages FPM’s long-held analysis of a)European Union break-up, b) the demise of the US Dollar hegemony, and c) the interrelated and subsequent
re-engineering of economic capitalism.

In case readers of this post reflect that FPM’s bandwagon aspirations for a new global co-existence is quixotic in actuality, and sensational in macro predictive value, we refer them to UN Secretary-General’s visit to meet Pope Francis at Vatican earlier this month. There the pontiff’s message to Ban Ki-moon was for progress in UN's Millennium Development Goals:

"…have a real impact on the structural causes of poverty and hunger… Specifically, this involves challenging all forms of injustices and resisting the economy of exclusion, the throwaway culture and the culture of death which nowadays sadly risks becoming passively accepted…"

FPM is curious about the Pope’s turn of phrase, “The Economy of Exclusion”; especially when contrasted with the indistinctness and abstract meaning of the “Inclusive Capitalism” initiative! The circus of hypocrisy is complete when one consider that the UN Millennium Development Goals was launched in 2000 with deadline in 2015!

Stop The Press! As of 28th May, President Barack Obama gave US foreign policy statement (via the BBC), in an address to the elite military school “West Point. The sabre rattling response to Russia and China’s recent offsetting balance of power threats are clear in this statement from the West Point speech:

“Here's my bottom line - America must always lead on the world stage.”